Kiltearn Partners LLP Sells 26,630 Shares of Micron Technology, Inc. (NASDAQ:MU)

Kiltearn Partners LLP trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 28.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,376 shares of the semiconductor manufacturer’s stock after selling 26,630 shares during the quarter. Micron Technology accounts for approximately 0.9% of Kiltearn Partners LLP’s holdings, making the stock its 29th largest position. Kiltearn Partners LLP’s holdings in Micron Technology were worth $6,988,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bridgewater Associates LP purchased a new position in shares of Micron Technology in the third quarter worth approximately $102,018,000. Freedom Investment Management Inc. increased its stake in shares of Micron Technology by 68.3% in the 3rd quarter. Freedom Investment Management Inc. now owns 5,817 shares of the semiconductor manufacturer’s stock worth $603,000 after purchasing an additional 2,361 shares in the last quarter. Hardy Reed LLC bought a new position in Micron Technology in the 3rd quarter worth $843,000. Townsquare Capital LLC lifted its position in Micron Technology by 38.1% during the third quarter. Townsquare Capital LLC now owns 20,811 shares of the semiconductor manufacturer’s stock valued at $2,158,000 after purchasing an additional 5,737 shares in the last quarter. Finally, Lazard Freres Gestion S.A.S. grew its holdings in Micron Technology by 241.7% during the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after purchasing an additional 29,000 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by insiders.

Micron Technology Stock Down 2.6 %

Shares of Micron Technology stock opened at $101.80 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The firm’s 50-day moving average is $103.07 and its two-hundred day moving average is $111.90. Micron Technology, Inc. has a 1 year low of $72.93 and a 1 year high of $157.54. The stock has a market cap of $112.87 billion, a price-to-earnings ratio of 149.71 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.21) earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. Micron Technology’s payout ratio is currently 67.65%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Rosenblatt Securities boosted their price objective on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Raymond James boosted their price target on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Citigroup cut their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.